CHICAGO -- Standard & Poor's Corp. upgraded $422 million of Utah Housing Finance Agency debt on Friday to AA from A-minus and A, based on the agency's new blended ratings approach for providers of credit support for housing issues.

Wendy Dolber, a director at the agency, said the Utah housing debt was the first of three states to be upgraded and removed from CreditWatch, where it had been placed with positive implications on June 29.

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